Vygon Group opens subsidiary in Finland

Posted by Vygon (UK) Ltd on 18-February-2016

Vygon adds to its Nordic presence, with existing branches in Denmark, Sweden and Norway, by opening a Finnish subsidiary

Ecouen, France, February 8, 2016 – Vygon, the specialist single-use medical devices group, today announces the opening of a subsidiary in Finland. The Vygon Finland Oy head office in Helsinki officially opened its doors on February 1, 2016. Vygon had already been present in Finland for more than 30 years via a network of distributors.

“The new subsidiary will increase sales and offer a wider range of quality medical devices. Inline with Vygon's ethos, value life; we aim to improve the standard of care in Finland by partnering with clinicians.”, said John Yates, vice president for Central, Northern and Eastern Europe. Finland, a country of 5.5 million people, has seen health expenditure increase steadily over recent years, reaching 9% of GDP in 2014.1 This is on par with the low average expenditure across the OECD. 75% of health expenditure in Finland is public. The Finnish market for medical devices reached €914m ($996m) in 2013 and is expected to grow by an average of 4.6% per year to reach €1.07 bn ($1.17bn) by 2018.2

Mrs Taru Leirisola, National Sales & Marketing Manager of Vygon, will be leading operations at Vygon Finland Oy. The new subsidiary will also benefit from the support and expertise of Mikael Hedström, managing director, Nordic countries. The local team of the Finnish subsidiary will be assisted by the international teams based in Ecouen, France, led by John Yates, vice president for Central, Northern and Eastern Europe. The Perouse Medical teams, who recently joined Vygon, will also help with the new challenges in the Nordic region.

"After creating Vygon Sweden in 1999, Vygon Denmark in 2005 and Vygon Norway in 2012, the opening of a Finnish subsidiary as we enter 2016 will further strengthen Vygon’s Nordic presence," said Stéphane Regnault, chairman of the Vygon managing board. “The Nordic and Scandinavian regions currently make up 9% of the area turnover for Northern, Central and Eastern Europe for Vygon. The sales goal for Finland is 10.4% of the Nordic and Scandinavian region total turnover." he continued, "This new development will speed up the Group's international growth as part of the VygView 2022 project. Our overall goal within the Northern, Central and Eastern European area is to return with a consistent overall double digit percentage growth year on year in line with our 2022 objectives."

"Each time a new subsidiary opens, it furthers Vygon’s commitment to make our medical devices available worldwide and is a real achievement for our team. This new subsidiary and Finland's geographical position opens up new doors for us in Eastern Europe," said John Yates, vice president for Central, Northern and Eastern Europe," said John Yates, vice president for Central, Northern and Eastern Europe.